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Ratan Tata Launches ‘Goodfellows’- A Startup Providing Companionship Services To Senior Citizens

Zainab Kantawala by Zainab Kantawala
August 20, 2022
in Startups
A A

India is home to over 15 million senior citizens. And a considerable population of them live alone, owing to various reasons, like the death of a partner, relocation of other family members to different areas, etc.

Now, growing old is a natural phenomenon and the age bracket above 60 too, needs care and support from others. However, many are unable to find so due to various reasons. And the magnanimous business mogul Ratan Tata has taken a step to tackle this growing concern among the growing population of senior citizens in the country.

The veteran businessman has invested in a startup called ‘Goodfellows’. The startup aims to provide meaningful companionship services to senior citizens. It was founded by Shantanu Naidu, Ratan Tata’s 30-year-old assistant, and is much like an ode to the intergenerational connection shared by the two.

“The bonds between the two generations created by Goodfellows are very meaningful and are helping to address an important social issue In India. I hope the investment helps the young team at Goodfellows grow,” Ratan Tata said.

Goodfellows has raised an undisclosed amount in seed funding from Ratan Tata. Over the past 6 months, the platform completed a successful beta and will now expand to cities like Pune, Chennai, Bangalore with Mumbai as its base.

Why Goodfellows

Loneliness is a serious problem among senior citizens. The startup pairs the elderly crowd with young graduates in an attempt to tackle problems pertaining to it, with fresh and novel approaches.

The idea of companionship is subjective and every individual would want to tackle it differently. Some may enjoy a stroll, others a movie, others just a heart-to-heart talk. Just like a grandchild would provide companionship, the millennial crowd will work towards making senior citizens’ lives hopeful and one without fear and resentment.

Also Read: 4 Times Ratan Tata Proved That He Is A True Gem Of The Country

Offerings

The platform also plans to host events to ensure participation and make the lives of the elderly happy and meaningful. Plans are in the pipeline to pair travel companions with senior citizens, who haven’t had a chance to travel for whatever reason holding them back.

Goodfellows offers a freemium subscription model giving the first month as a free trial, followed by a small subscription fee on regular use. The platform also offers short-term internships to graduates who possess the required knowledge in dealing with human relationships.

Senior citizens can avail the services by signing-up on thegoodfellows.in or can give a missed call at +91 8779524307.

Sources:
https://www.businessinsider.in/business/startups/news/talent-crunch-biggest-obstacle-to-indian-startups-us-expansion-says-report/articleshow/93587275.cms

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Mother Dairy is targeting a 20% increase in revenue to over Rs 24,000 crore in FY27, backed by rising consumer demand and plans to expand into new markets, according to media reports. As per media reports, the dairy major recorded a turnover of Rs 20,300 crore in FY26, up 17% year-on-year. The company has more than doubled its revenue over the last five years, crossing the Rs 20,000-crore milestone. As part of its growth strategy, Mother Dairy is looking to strengthen its presence outside Delhi-NCR. Chairman Meenesh Shah said the company is exploring entry into new markets where it currently has limited or no presence. The company is also setting up a dairy plant in Maharashtra, has leased a facility in Hyderabad, and is establishing a second plant in Bihar. Managing Director Jayateertha Chary said sales in the first two months of the fiscal have been encouraging, with ice cream emerging as a strong-performing category. Reports also suggest that from Mother Dairy’s FY26 turnover, the dairy business contributed more than Rs 15,000 crore, while edible oils and horticulture accounted for around Rs 5,000 crore. Around 63% of revenue came from Delhi-NCR, with the remainder generated from other parts of the country. The company currently reaches more than 95 cities across India and operates nine milk processing plants, four horticulture processing plants and 16 associated edible oil facilities.

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